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Entertainment News LeaderTue, 12 Dec 2017 18:51:14 +0000en-UShourly1https://wordpress.org/?v=4.8.4Inflation Surges To Highest Level In Over Three Yearshttps://emag.co.uk/inflation-surges-highest-level-three-years/
Tue, 16 May 2017 19:31:22 +0000https://emag.co.uk/?p=249283Inflation rate in April reached highest in three and a half years to 2.7 percent and one of the primary contributions to it is rising cost of electricity.
Office of National Statistics also blamed the rise in cost of air…

]]>Inflation rate in April reached highest in three and a half years to 2.7 percent and one of the primary contributions to it is rising cost of electricity.

Office of National Statistics also blamed the rise in cost of air fares, car tax and clothing that resulted with the rise in consumer price inflation (CPI).

The forecast for April was 2.6 percent and that for the month of March was 2.3 percent.

Comparatively the wages didn’t rise much and was limited to an increase of just 1.9 percent last month and the opposition parties are highlighting the increasing pressure on living standards.

The devaluation of sterling following Brexit vote in July 2016 has pushed up the import prices and this has made the clothing and food expensive.

Earlier this month the Bank of England predicted inflation could go up to 2.7 percent this summer, but now it seems a revision is required as ONS mentioned the producer output price inflation was above 3 percent in April.

“These worrying levels of inflation show the Brexit squeeze is hitting shopping baskets across the country,” said Liberal Democrat shadow business secretary Susan Kramer.

TUC general secretary Frances O’Grady said workers should be protected from such slump in real wages and all the political parties need to explain now how to create better-paid jobs.

Meanwhile, economists too are divided how inflation could be over the period of next year and some even fears to be above 3 percent.

It is also believed the Bank of England will sit tight on interest rates throughout 2017 and 2018.

]]>July’s UK Inflation Index 13-Month High Following Brexit Referendumhttps://emag.co.uk/julys-uk-inflation-index-13-month-high-following-brexit-referendum/
Tue, 16 Aug 2016 18:56:35 +0000https://emag.co.uk/?p=243367The consumer prices in United Kingdom exceeded forecasts last month and resulted with raising the inflation to the highest level in more than a year.
The five-year break-even inflation rate of UK jumped 3 basis points to 2.587 per cent,…

He added inflation will simply be the product of demand and supply conditions in the long run and limited access to single market could bring down investment, trade as well as immigration. In the long run this could hurt supply potential of the economy.

Experts believe the Brexit effect may not be of long-term in terms of inflammation and interst rates could be increased in long run.

Samuel Tombs at Pantheon Macroeconomics, said: “Sterling’s sharp depreciation is entirely responsible for the pick-up in CPI inflation in July.”